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May 21 San Francisco The Fairmont June 17 New York Marriott Marquis August 26-27* Dallas Hyatt Regency (Expanded to accommodate expected FASB guidace -- New agenda will be posted soon)

Advanced Accounting & Reporting for SEC Professionals

One day: 8 CPE Credits - May 21, San Francisco and June 17, New York
One and a half days: 12 CPE Credits - August 26-27, Dallas (Expanded to accommodate expected FASB guidace -- New agenda will be posted soon)

Learn about the most problematic and challenging accounting and disclosure issues in SEC reporting, and review recent developments at the SEC.

In this workshop you will interact with the instructor to:

• Master the areas critical to preparing the MD&A in the current economic environment

• Understand the areas currently presenting the greatest challenges in SEC reporting, including those most frequently challenged by the SEC

• Review which issues and disclosures are the most frequent causes of restatements and amendments

• Understand the 10 most commonly mentioned FASB Statements in SEC comment letters, the most frequently challenged sections in each standard, and examine examples

• Learn about the recent implementation challenges related to new standards and updates

• Learn about current developments and proposals at the SEC, including an update on the proposed IFRS roadmap and XBRL implementation

AGENDA

8:00 - 8:30 a.m. – Registration/Continental Breakfast

8:30 - 8:45 a.m. – Workshop Overview

8:45 - 11:00 a.m. – Managing Today’s Challenges in SEC Reporting

• Managing your relationship with the SEC

  • Update on the review process

  • Focus on transparent, robust disclosure

  • Proactive approach of the SEC, eg Dear CFO letters

  • Examples of frequent comments to “enhance” disclosure

  • Tips to manage the review process for your comment letters

  • The re-invigorated Enforcement Division

• Update on SEC rulemaking and projects

  • The latest developments in the SEC’s Roadmap to IFRS

  • The new non-GAAP measures CD&I’s, what really changed??

  • XBRL implementation issues – The challenges of year one and year two - detailed tagging in the footnotes

  • 21st Century Disclosure Initiative

  • Core Disclosure Project

  • Compliance & Disclosure Interpretations

    • Use of experts – new policy

  • Recent updates to Corp Fin’s Financial Reporting Manual

  • Retrospective changes (CAQ alert)

  • SOX 404 – Will or could it change?

  • Oil and gas modernization and related FASB project

  • Proxy final and proposed rules – Compensation and risk disclosures

  • Other new guidance

• SEC Corporation Finance focus areas - non-accounting

  • Example comments and responses

  • Risk factor disclosures

  • Contingencies in Form 10-K Item 3

  • Consistency with other sources of company information

  • Frequent proxy comments

  • Material contracts

11:00 - Noon – MD&A Update

• Frequent areas of SEC staff comment

  • Overview/introduction

  • Direct, simple language, should you use “plain English”?

  • Results of operations

  • Cash flow & liquidity in the current economic environment

  • Forward-looking information

  • Specific areas – goodwill, fair value

• Critical accounting policies and estimates

• Impact of Dear CFO letters

• Table of contractual obligations

• Non-GAAP financial measures – moving from press release to MD&A?

• SAB 74 disclosure – renewed focus – when do you know the impact?

• Market risk – can the SEC improve the discussion?

Noon - 1:00 p.m. – Lunch

1:00 - 4:30 p.m. – Managing Today’s Challenges in Accounting

• Identifying challenges in your financial reporting

• Frequent causes of restatements

• Impact of the FASB Codification

  • SEC interpretive release

  • CAQ alert

  • Impact on SEC filings and comment letters

• Impact of the CIFR recommendations

  • Materiality developments

  • Judgment

  • Restatements

• Impact of new PCAOB guidance

  • New second partner review guidance

  • Risk based standards

• Business Combinations

  • Refresher on differences between FAS 141 and 141R

  • FAS 141R Implementation issues

  • What comments will the new standard generate?

• Noncontrolling Interests

  • FAS 160 implementation issues

• Fair Value

  • SEC and FASB guidance

  • Implementation and valuation challenges

  • Impact of IASB project

  • Frequent SEC staff comments

• Financial instruments

  • New OTTI guidance

  • Frequent SEC staff comments

  • Update on the joint project

• Financial Statement Presentation and Classification

  • The FASB’s financial statement presentation project and potential impacts

  • Impact of the Expert Advisory Panel

  • Frequent SEC staff comments on financial statement classification

• Disclosure of Loss Contingencies

  • Why is the SEC staff never satisfied with this disclosure?

  • The FASB’s first proposal, reaction, and current redeliberations

• Income Taxes

  • A revitalized focus area for SEC staff comments

  • After the IASB’s ED, is it back to the drawing board?

• Consolidations

  • New FASB guidance

  • Update on the joint project

• Revenue Recognition

  • Frequent comments of the SEC staff

  • New guidance on software revenue recognition and multi-elements

  • Update on the joint project

• Recent Accounting Standards Updates (ASUs) and what is on the Horizon

  • International convergence projects

    • Revenue recognition (see above also)

    • Leases

    • Financial statement presentation ( see above also)

    • Timing?

  • Subsequent Events

  • Going Concern

  • Pensions and OPEBs

    • Update on joint project

  • Debt vs. Equity

    • Update on the joint project

  • Other Standard-Setting Projects

Please Note: To get the most benefit from this workshop, we suggest that you attend our first level SEC workshop, our always highly rated “SEC Reporting Skills Workshop”, or be familiar with the SEC reporting process, including the use of the Instructions to the Forms, Regulations S-K and S-X, the Financial Reporting Codification and the Staff Accounting Bulletins before you attend our Advanced SEC Reporting Skills Workshop.

Learning Objective: To provide an update on advanced SEC filing requirements and current accounting challenges..
Delivery Method: Group-Live
Prerequisites/Advance Preparation:“SEC Reporting Skills Workshop,” or be familiar with the SEC reporting process and the use of the Instructions to the Forms, Regulations S-K and S-X, the Financial Reporting Codification and the Staff Accounting Bulletins.
Program Level: Intermediate.

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